Broker Check

Technology: Friend Or Foe?

Technology: Friend Or Foe?

How do you feel about technology? Are you one of the 68% of advisors who admit that learning about and keeping up with technology is their top challenge? (1) As an independent advisor, technology is a necessary evil. Think of it this way: if you don’t spend the money on the best financial and client tools, you will struggle to remain competitive and meet your clients’ needs. But because you are running your own business, and all that goes along with it, implementing and maintaining technology often ends up being a thorn in your flesh.

Despite the challenges, technology is critical for any advisor’s success. Here’s why.

1. It Reprioritizes The Client

In a survey of over 800 advisors, almost all of them said that technology has the ability to help them give the best service possible to their clients. (2) Your clients are at the core of why you do what you do. Since they are the priority, don’t you want to create systems that give you more time and energy to focus on them?

2. It Encourages Growth

You are only one person and therefore have limits on what you can do in any given day. Technology makes you more efficient and takes on some of your more administrative tasks so you can grow your firm.

3. It Sets You Apart

Your clients want to know that you are taking care of their financial needs, and that often means having software to aggregate their accounts, assess risk, and monitor their plan. This is especially true of clients in the younger generations who see technology as an integral part of their lives. In a study conducted by the CFA Institute, the results showed that 70% of millennials believe a core value any advisor brings to the table is the technology they offer. (3) If you want to stand out from the crowd, invest in technology.

Unfortunately, no matter how much advisors value technology, there are often seemingly insurmountable obstacles to adopting it.

Technology Pain Points

For independent financial advisors, not only is technology increasingly expensive but it can turn into a full-time job that has to be outsourced just to keep hardware and software running. You don’t have time for that, and your money can be used better elsewhere. In addition, you have the added pressure of maintaining cyber security to keep up with new regulations.

On the other hand, advisors who work with broker-dealers have to deal with closed architecture that typically doesn’t allow for customization or addition of technology. They also don’t allow for data integration or ownership, meaning that the advisor has to dig in several different locations to create a complete picture of a client’s finances. If you choose to leave that broker-dealer, you cannot take your client’s information with you. This may make you feel stuck and disempowered, unable to offer your clients the level of service you desire.

Is there a way to make technology work for you, not against you?

We Have A Solution

Freedom Net is our answer to the technology headaches of independent advisors. We provide the best tools and technology that are normally reserved for top advisors and large firms. We pride ourselves on the advanced technology we use to benefit our advisors, investing in the best tools to do our jobs effectively from anywhere in the world. Additionally, we’ve spent the time learning the tools inside and out so we can use them effectively and help our advisors do the same. Let us help you leverage technology and turn it into a blessing, not a curse. Learn more about our firm and our suite of technology tools we offer by visiting You can also email us at or call Kurt Rozman at 262-798-7979.

About Freedom Wealth Alliance

Freedom Wealth Alliance is a Registered Investment Advisor providing a home and multiple affiliation options for financial advisors seeking business growth and/or succession planning, operational excellence, and turn-key placement. We created this firm to relieve your stress no matter the stage of your firm. We take the burden of running the business off your back, so you can spend your time doing what you do best and love the most. If that means spending more time with clients and prospects, you can. If that means spending more time with your family, just do it. Visit and sign up for a free account to access all the tools and resources we have developed to help you transition to true freedom and business ownership.





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